Senior living firm banks $50M loan

Validus Senior Living, an affiliate of the Validus Group, recently acquired Inspired Living at Tampa, refinanced Inspired Living at Sun City Center and is completing an acquisition of Inspired Living at Bonita Springs.

Combined, the communities add an additional 190 memory care units to the Validus portfolio, according to a statement. The Bonita Springs deal should be completed by the end of the first quarter, the release adds.

Validus Senior Living is funding the deals partially from a new five-year $50 million line of credit from Hancock Bank. “This new relationship with Hancock Bank allows us to accelerate our growth so we can better serve our senior population,” Validus Senior Living CEO Steve Benjamin says in the statement.

Validus Senior Living owns and operates independent living, assisted living and memory care centers. The company has seven facilities in Florida, two scheduled to open this year and five in development.